Brookfield India REIT to Raise ₹2,600 Crore through QIP
Brookfield India Real Estate Trust (BROOKFIELDIND) has received participation from prominent investors for its ₹2,600 crore qualified institutional placement (QIP), which was raised by 30% under the green-shoe option.
Key Investors Participating:
- International Finance Corporation (IFC)
- Whiteoak Capital
- HDFC Life Insurance
- Axis Max Life Insurance
- PPFAS Mutual Fund
The issue size was increased on Friday following the robust response from investors. Around 90% of the book is allocated to long-only investors, with a large part of the overall book for domestic institutional investors.
The listed REIT is raising funds to support its growth through acquisitions and for debt repayment. Since 2023, it has raised more than ₹13,000 crore through five institution placements.
Recent Acquisitions and Growth
The trust's recent acquisitions include:
- Ecoworld office park in Bengaluru
- Candor TechSpace portfolio across Gurgaon, Noida, and Kolkata
- An additional tower at Candor TechSpace N2 in Noida
In December, Brookfield India REIT completed the acquisition of a 100% stake in Ecoworld, a 7.7 million sq ft Grade A office campus located on the Outer Ring Road in Bengaluru.
Operational Assets Portfolio
The REIT's operational assets portfolio has increased to more than 32 million sq ft from 10 million sq ft at the time of its public listing in 2021.
Lead Managers and Outlook
Kotak Mahindra Capital, JM Financial, and Avendus Capital are the lead managers to the QIP.
ET's emails to the participating investors remained unanswered at press time Sunday. Brookfield India REIT declined to comment.
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